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State retirement system in Iowa

State retirement systemstate general· Iowa

State retirement system, based in Iowa, reporting $47B in assets, for 414,172 participants.

Composed from this allocator's classification, location and filed figures.

Assets
$47B
Private allocation
37.5%
As of · the latest dated event for this allocator; each figure carries its own filing or report date

Nothing material in the last 90 days. Last change: 30 Jun 2024, Total assets changed.

Capital path

who backs this record, through what, into what; each name opens its own path
Who decides
State retirement system in Iowa
Size, funding, policy and commitments, with their basesState retirement systemShow
State retirement system
Assets
$47B
Fiduciary net position, Jun 30, 2025 reported
Funded
not on record
not filed
Private markets target
37.5%
policy Jun 30, 2025
Commitments
0
none on the tape
Allocation policy
ACFR, as of Jun 30, 2025
Asset class (as printed)BucketTargetRangeActualGapBasis
Core fixed incomeFixed income22.5%22% to 28%26.0%+3.5reported legis.iowa.gov
Private creditPrivate credit8.0%6.0%-2.0reported legis.iowa.gov
Public creditPrivate credit3.0%0% to 6%3.0%+0.0reported legis.iowa.gov
Private equityPrivate equity17.0%17.0%+0.0reported legis.iowa.gov
Domestic equityPublic equity21.0%18% to 24%22.0%+1.0reported legis.iowa.gov
Global smart beta equityPublic equity5.0%2% to 8%5.0%+0.0reported legis.iowa.gov
International equityPublic equity13.0%10% to 16%14.0%+1.0reported legis.iowa.gov
Private real assetsReal assets9.5%7.0%-2.5reported legis.iowa.gov
Consultants and advisers
3 firms
People
1 role
Chief investment officer
Sriram Lakshminarayanan
Chief Investment Officer (Jun 30, 2025) legis.iowa.gov
Sriram Lakshminarayanan, Chief Investment Officer
    Manager roster
    No manager relationship is on the tape for this allocator.
    What changed
    3 events
    Board record: approvals, recommendations, searches, terminations and re-up prospects for this system.
    Commitments
    No fund commitments are on the tape for this allocator. The tape holds the plans that publish their own private-markets reports; a plan that publishes one and is not here is a gap we can close.
    Size and funding
    54 readings
    Total assets
    $44B Jun 30, 2024 derived Census ASPP
    $41B (2023-06) · $41B (2022-06)
    Fiduciary net position
    $47B Jun 30, 2025 reported ACFR
    $44B (2024-06) · $41B (2023-06) · $40B (2022-06)
    Long-term investments
    $43B Jun 30, 2024 reported Census ASPP
    $41B (2023-06) · $40B (2022-06)
    Total pension liability
    $3.6B Jun 30, 2024 reported Census ASPP
    $4.5B (2023-06) · $3.8B (2022-06)
    Discount rate
    7.00% Jun 30, 2024 reported Census ASPP
    7.00% (2023-06) · 7.00% (2022-06)
    Participants
    414,172 Jun 30, 2024 derived Census ASPP
    404,114 (2023-06) · 392,725 (2022-06)
    Active members
    183,389 Jun 30, 2024 derived Census ASPP
    179,903 (2023-06) · 176,186 (2022-06)
    Beneficiaries
    136,060 Jun 30, 2024 reported Census ASPP
    133,847 (2023-06) · 131,704 (2022-06)
    Benefits paid
    $2.7B Jun 30, 2024 reported Census ASPP
    $2.6B (2023-06) · $2.5B (2022-06)
    Investment expense
    $92.9M Jun 30, 2024 reported Census ASPP
    $69.1M (2023-06) · $70.3M (2022-06)
    Provenance
    Identifiers: none on file
    Cross-graph: no entry on another DFX graph
    First observed Sep 15, 2026, last observed Sep 23, 2026. Classification confirmed. Every row above carries its source; a reported figure is the subject’s own, a derived one is arithmetic on reported figures, an estimated one is a model or a survey imputation and is never summed into a headline.

    Not yet on record: funded ratio, fund commitments.

    Record history

    3 dated events on the change ledger, latest first
    • Total assets changed
      2023-06-30source
    • Total assets changed
      2024-06-30source
    • Total assets changed
      2024-06-30source

    The ledger records every merge, rename and reclassification this record went through and the dated filings observed on it, so the identity on this page can be traced to the records it was built from. The ledger's own sentences name other records, so they show with the names.

    ›Connections

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    +3 connections on the graph

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